We don’t call him King James for nothing.
According to multiple outlets, NBA superstar LeBron James has just agreed to a two-year extension to his contract with the Los Angeles Lakers, a deal topping out at $97.1 million.
The new contract will push the 37-year-old’s total guaranteed career earnings to $532 million, making him the highest-paid player in NBA history. Although it hasn’t been confirmed by the small forward’s camp, CNN reports that the deal will push the player well over his already official billionaire status. Before this announcement, it was previously speculated that James was to enter free agent status next year. This reported contract extension puts all that to rest.
According to CNN, when the season begins on October 18 James is poised to be on track as as the NBA’s all-time leading scorer, taking over Kareem Abdul-Jabar’s record. This incredible payout is just the latest of James’s financial accomplishments.
Essence previously reported that he is one of the most business-savvy NBA players in the league. With flagship brand endorsements like Sprite, Nike, and McDonald’s among others, James has charted a path of incredible business success. That’s just the tip of the iceberg for him, though. A smart investor, he’s had early buy-in on brands like Blaze Pizza, Fenway Sports, and Beats by Dre.
It was reported that the player reached billionaire status in June of this year. “If it happens. It’s my biggest milestone,” James said ahead of the milestone. “Obviously. I want to maximize my business. And if I happen to get it, if I happen to be a billion-dollar athlete, ho. Hip hip hooray! Oh, my God, I’m gonna be excited.”
Forbes estimated James, 37, has brought in more than $900 million from business investments and endorsements.
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